Poland’s rating unchanged, no update: Moody’s

The agency was expected to update its rating for Poland late on Friday.

Ahead of the agency’s decision, Polish Finance Minister Mateusz Morawiecki said he expected Moody’s to keep the country's rating unchanged.

Morawiecki, who is also deputy prime minister and development minister, told the PAP news agency: "I think there will be no changes.”

In May, Moody's maintained Poland's A2 credit rating, while raising its outlook from negative to stable.

Moody's said at the time that the investment climate had not significantly deteriorated under the conservative Law and Justice (PiS) party, which swept to power in Poland’s 2015 general elections.

Fear of such a deterioration was among the factors behind the rating agency's decision to lower Poland's outlook from stable to negative last year. May’s announcement reversed that downgrade.

Moody’s earlier this week sharply upgraded Poland’s 2017 GDP forecast to 4.3 percent from an earlier projection of 3.2 percent.

The Polish economy grew 3.9 percent in the second quarter of this year, according to the country’s Central Statistical Office (GUS). (gs/pk)

Source: PAP, IAR, money.pl